US Applications for Jobless Benefits Fell Last Week as Layoffs Remain Low
Applications for unemployment benefits dropped to 229,000 as job gains slowed to 35,000 monthly, influencing Federal Reserve signals for a potential interest rate cut.
- Fewer Americans sought unemployment benefits last week as employers appear to be holding onto their workers even as the economy has slowed.
- Applications for unemployment benefits for the week ending Aug. 23 dropped 5,000 to 229,000, the Labor Department reported Thursday.
- While layoffs are low, hiring has also weakened as part of what many economists describe as a 'no hire, no fire' economy.
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53 Articles
US jobless claims fall as hiring slows
KEY TAKEAWAYS: Jobless claims dropped by 5,000 to 229,000 Hiring has slowed to 35,000 jobs a month since spring Unemployment rate holds steady at 4.2% Fed may cut interest rates at September meeting Fewer Americans sought unemployment benefits last week as employers appear to be holding onto their workers even as the economy has slowed. Applications for unemployment benefits for the week ending Aug. 23 dropped 5,000 to 229,000, the Lab…
Jobless claims dropped by 5,000 this week, though nearly 2M unemployed
Unemployment claims dropped by 5,000 this week from the previous week's seasonally adjusted level, but still there are nearly 2 million people unemployed, according to a press release from the U.S. Department of Labor.
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